Den här uppsatsen syftar till att undersöka och jämföra de olika sätt att finansiera och investera i fastigheter på kapitalmarknaden. Målet är att fastställa och kvantifiera vilka fördelar respektive nackdelar som finns med de olika investeringskanalerna och hur det kan påverka såväl investerare som förvaltningen av tillgångarna. Undersökningen kommer bestå av en kvalitativ metodansats där intervjuer med professionella förvaltare, aktiemäklare, företagsledare och investerare såväl som egen research utgör grunden för resultatet. Resultatet av den här uppsatsen har implikationer på finansbranschen i form av en kartläggning och övergripande förståelse av investeringsmarknaden i fastigheter Uppsatsen visar att varje investeringskanal har sina egna särdrag, så som kontroll, insyn, diversifiering, investeringshorisont med mera. Därför attraherar kanalerna olika investerartyper. / This bachelor thesis aims to investigate and compare the different ways of financing and investing in real estate as an asset in the capital market. The goal is to determine and quantify the advantages and disadvantages of the various investment channels and how it can affect both financing and the management of the assets. The thesis will consist of a qualitative method approach where interviews with professional managers, stockbrokers, company executives and investors as well as in-house research form the grounds for the result. The result of this thesis has some implications on the financial industry in the form of a thorough and comprehensive depiction of the real estate investment market. The report shows that the different investment channels have their specific characteristics and therefore fits specific investors accordingly.

This publication-based dissertation concerns the syndication and value creation activities of heterogenous corporate venture capital funds over six chapters. The first chapter serves as an introduction to venture capital heterogeneity and syndication and provides an overview of the four research papers included in the dissertation. The second chapter is a systematic literature review of recent research on heterogeneous venture capital syndication. Therein the underlying motivation, dynamics and results of fund- and affiliation-heterogenous syndicates are clearly identified, integrated and promising avenues for further research are specified. The third chapter is a research paper on the value creation activities of investment syndicates among independent and corporate venture capital funds. Building on a cross-industry sample of 35 interviews this inductive study identifies the determinants of value creation, integrating them in a matrix comprising shareholder relationships, corporate setup, venture lifecycle and deal terms. Chapter four is a research paper that empirically observes how corporate venture capital units leverage the resources of their incumbent parents to generate value for their portfolio firms. Based on case studies of 11 corporate venture capital units the paper reveals the mechanism behind corporate venture capital value creation holistically and identifies eight design elements that result in a typology of four distinctive archetypes. The last research paper is chapter five and concerns the distinct impact structurally heterogeneous corporate venture capital funds have on portfolio firms operating efficiency. Employing the longitudinal, European Union sponsored VICO dataset the paper finds differences in CVC structure, autonomy and objectives to have implications on firm efficiency. The present dissertation is concluded in the sixth chapter, highlighting contributions, limitations and promising avenues for further research.